MCX Silver Tips, Gold Trend For Today

Gold prices trading down as US Dollar Index (DX) declined around 0.2 percent today. At the MCX, silver is trading at Rs. 53370 and declined more than 0.50%. It may find support at the level of 53100 where we can see some recovery move. So traders can go for buy at this level according to the trend.

Gold may slip down to 29900-29700 level if it does not sustain the level of 30000. Currently trading at 30046, mcxgold has immediate support of Rs 30000 while resistance has been seen at 30130 level. Traders can take their positions according to these levels.

MCX Gold & Silver Trend for Today

MCX Gold prices have touched the record level and crossed 30400 level. However Comex Gold is trading 15% below its record level. Weakness in rupee against the dollar has supported gold prices in MCX. Also, HSBC's prediction that International Gold prices may reach upto $1900 by the end of this year has initiated  a positiveness in the market. Silver has also crossed 55000 level and with a gain of more than 0.30%, its trading at 55100 level. One can buy silver for the target of 55500.

MCX Gold Silver Trend for Today

MCX Gold trend is bullish and we can expect prices to rise up to  30200-30300 level. Major resitance is seen near Rs. 30300 and next resistance is  30500.


MCX Silver trend is also bullish, Prices can taste 55500-55800 level. 54800 is the immediate support for most active futures of silver commodity.


Buy Gold for the TG of - 30200-30300 and Silver for the target of 55500-55800.

Commodity Tips: Silver & Gold Updates

Amid  various up and down movement of trend lines, bullion metals are moving in directionless manner. Gold after travelling in green belt initially, has slipped down below crucial level of Rs. 30000 and currently trading around 29950 level. It is providing the day traders with an opportunity to buy on lower levels. MCX Silver has also declined by 0.30% and  has come down below 55000 level. Silver If does not hold the level of 54800, it may further decline to 54500-54300 level while staying above 55000 would fortify the bullish trend.

MCX Gold (August futures): Buy - 29900, stoploss of Rs - 29800 and target - 30150-30250

MCX Silver (July Futures): Buy 54900 TG- 55200-55500, Stoploss- 54750

MCX Crude Updates Today

Crude Oil prices have boomed in all the indexes across the world. NYMAX, ICE and MCX have witnessed crude prices a gain of 2-2.5 %. Increased volume of crude oil import in China has supported the crude prices globally. However the bullishness seen in crude doesnt seem to be long lasting . Experts say that Crude may again suffer a correction of 150-200 points so traders need to remain cautious from the sudden glitter coming from crude oil. Prices on MCX have reached above 4751 level. Technically crudeoil is taking support near 4690 level while resistance can be seen at 4830.

MCX Tips: Crude & Copper Trend

Crude oil has to suffer sharp decline today. MCX Crude oil prices have slumped down to 4600 level after declining  nearly 2%.  The effect of the decline in the international market has had on the domestic market also. Weaker global cues stimulated the selling sentiments in MCX and crude slipped down again.

MCX copper has also witnessed sharp fall. It has fallen more than 1.40% and copper June futures is currently trading at 405.

For near term trade, buy on lower level strategy is suggested to the traders as near term trend of crude and copper is still positive.

MCX Gold Silver Trend and Copper Tips for Today

The positiveness in the international market has supported Gold and Silver prices in domestic market also.

As anticipated, Silver has surged sharply and witnessed a gain of more than 2%. Currently Silver (July) is trading above 55500 level. Gold has reached above 30200 mark, up by nearly 1%.

Crude oil seems to have recovered the bullish trend and its June futures has gained more than 1.20% on MCX. Despite rupee strengthening against dollar, these commodities are doing well on the exchange.

Copper has also breached the resistance level of 411.50 and now the prices are expected to reach 416-419 soon.

MCX Gold (August futures): Buy - 30300, stop-loss of Rs - 30220 and the target – 30450-500

Sell below 30150 TG- 29950-29900

MCX Silver (July futures): Buy - 55550, stop-loss of Rs - 54200 and the target - 55800-56200

MCX Copper (June futures): Buy - 412.50, stop-loss of Rs - 409.50 TG-414.50-416.50

Copper Trend and Bullion Metals Updates

All Base metals are trading higher on MCX. However MCX copper hit lower level of 398 yesterday but today it has recovered up to 410 level with a gain of nearly 0.60%. Traders can buy Copper above 411.50 level for the targets of 414.50-416.

In Bullion metals, Strengthening of the rupee against the dollar is preventing Gold prices to go further above 30000 level. Still Gold silver are in positive trend. One can buy silver above 54100 for the target of 54600.

MCX Crude and Copper Trend Today (4th June 2012)

Crude oil has completely taken over by the fall.  The decline seen in crude oil due to weak cues from China, Europe and the United States, is still prevailing  On MCX, Crude oil is trading near 4550 and NYMAX crude is already down to $ 83.

MCX Copper has also been facing the decline mode. With more than 1.50% fall on domestic market, this base metal is trading near Rs. 401. Prcies are likely to fall further below 399 level. 

Sell Copper  below 399 TG- 396-392 SL- 405.50

Gold Silver Tips- Bullion Updates

silver prices has fallen sharply today. MCX silver has witnessed a decline of 1.5% while Gold heading towards 28900 level after suffering a downfall of more than 0.70%.

The bullion metals started the day with negative bias and extended losses. Silver is finding its support level at 53000 level and below this mark, more downside is expected. If silver shows any positiveness after reaching 53150, traders can make a buying decision. The same strategy of buy on lower levels is advised for Gold commodity also. Intraday buy position can be taken near 28800 level.